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Budget 2021 LIVE – Rishi Sunak speech TODAY to unveil 30p price hike on pints & VAT scrapped on home heating bills

CHANCELLOR Rishi Sunak will unveil his second Budget of the year today, with economic plans that will take us through the winter.

Rumoured measures include a 30p hike on the price of a pint - meaning it will cost Brits more for a visit to their local boozer.

Mr Sunak will not axe VAT on household energy bills in today's Budget - despite families being clobbered with eye-watering rises.

The Chancellor is under pressure to scrap the 5% VAT charge on heating bills for six months from November 1 to help bills be more affordable during the winter.

Another confirmed measure will be to increase the minimum wage to £9.50 an hour this week, giving a pay rise for millions of Brits in his budget.

The Chancellor is also set to unfreeze sector pay on teachers, civil servants and police wages.

It is also expected that he will ditch a 2.84p budget hike in fuel duty — a win for The Sun's Keep It Down campaign.

Read our 2021 Budget blog below for the latest news and updates...

  • Who is the man behind the budget?

    RISHI Sunak has been a shining light for many during the coronavirus pandemic, thanks to his reforms as Chancellor of the Exchequer since February 2020. 

    MP for Richmond in Yorkshire since 2015, Rishi Sunak, is the son of Yashvir, an NHS GP, and Usha, a pharmacist, who moved to the UK from Punjab, India, in the 1960s.

    Born in 1980 in Southampton, Hampshire, he attended the prestigious Winchester College before going on to study politics, philosophy and economics at Oxford University.

    He also earned an MBA from Stanford University in the US, becoming a Fulbright scholar.

    In 2009, he married Akshata Murthy, the daughter of Indian billionaire Nagavara Ramarao Narayana Murthy, who co-founded business consulting firm Infosys.

  • Pint price (Continued...)

    Pub landlords have had a hard time as it is after being closed for the majority of the year.

    City Pub Group chairman Clive Watson said landlords can't soak up extra overheads as the industry is "coming off life support" after Covid.

    He said: "We cannot absorb all these increased costs whether it is the energy costs whether it is food inflation, whether it is labour costs.

    "So the only way forward for us is to put the price of beer and food up in our pubs.

    "No-one wants to do that but I reckon the price of beer would probably have to go up 25p-30p a pint to take account of all these increased costs."

  • Beer worries for Brits?

    Brits face paying 30p more for a pint after Rishi Sunak hikes wages for the lowest paid in his budget, business chiefs have warned.

    Landlords say they'll have to put up prices because they're struggling with spiralling overheads that will be compounded by the salary hike.

    The chancellor is poised to announce that the national living wage is going up by 6.6% from £8.91 to £9.50 an hour.

    He says the move will add on average around £1,000 before tax to the annual pay of a full-time worker.

    Mr Sunak is also set to end the public sector pay freeze and hand millions of workers a raise.

  • Budget to take place after PM's Questions

    The next Budget will be delivered in the House of Commons and scheduled to take place after Prime Minister's Questions (PMQs).

    PMQs usually lasts around half an hour so the Budget typically starts just after 12.30pm.

    It may be later if PMQs overruns and time is often given to allow MPs to enter the House of Commons chambers.

  • What can we expect today?

    It is expected that online shoppers could be hit with a 2% sales tax.

    Other rumours are that a VAT cut on energy bills is being mooted, but commentators say this could be too expensive for the Treasury to do.

    Meanwhile, Uswitch has called on the government to increase the Warm Home Discount. It says the current £140 allowance barely offsets the recent energy price cap increase.

    The move would aim to level the playing field between online and high street retailers but could end up costing families hundreds of pounds.

  • Today is the day we will find out what is included in the budget

    CHANCELLOR Rishi Sunak will unveil his second budget of the year later today, with economic plans that will take us through the winter.

    Two key factors that Brits can expect will be no increase in fuel duty as well as £1,000 a year boost to wages.

  • Fuel duty expected not to rise

    Due to the increased petrol prices, Rushi Sunak may have been left with no other option but to ditch a 2.84p budget hike in fuel duty today.

    The average forecourt price per litre hit a record 142.94p on Sunday, with soaring oil prices and retailers blamed for hiking prices.

    MPs say they have been privately assured by the Treasury that the scheduled 4.9 per cent rise for 2022 will not go ahead.

    In a major victory for The Sun’s “Keep It Down” Campaign, the duty will be frozen for the second time this year.

  • How does the National Living Wage compare to the National Minimum Wage

    National Minimum Wage

    The National Minimum Wage is the wage workers under 23 but of school-leaving age are entitled to.

    It is currently £8.36 for those aged 21-22 and £6.56 for 18 to 20-year-olds

    The minimum wage for workers under 18 is £4.62 an hour and the apprenticeship wage is £4.30.

    The National Living Wage

    The National Living Wage is the minimum wage for those aged 23 or over.

    Currently, it is set at £8.91.

  • Explained: 'The real living wage' campaign

    The "Real Living Wage" campaign, has allowed for workers to be paid more that what the minimum wage requires.

    The "Real Living Wage" is voluntarily paid by more than 7,000 UK businesses.

    Over 250,000 employees have received a pay rise through the campaign.

    Campaigners say the living wage should be £9.50 per hour, rising to £10.85 in London.

  • Speaker calls for ministers to resign

    The speaker was left furious and has called for ministers to resign after details of the budget have been revealed before the chancellor addresses MP's Today.

    He said, "At one time ministers did the right thing if they briefed before a budget - they walked."

    Whilst Sir Lindsay was speaking there was shouts of 'resign' to which the speaker replied, "Yes absolutely, resign. It seems to me we've got ourselves in a position that if you've not got it out five days before it's not worth putting out.Advertisement

    "I've got to say, members are elected to this House to represent their constituents, those constituents quite rightly expect the MP to hear it first in order to be able to listen to what the budget is about, but also for the days following that to be able to hold them to account.

    "It's not acceptable and the government shouldn't try to run roughshod over this House, it will not happen."

  • Boris Johnson wanted new model for wages

    The PM had previously stated that the government would not be going back to the 'old broken model' when it comes to wages.

    The PM told the Conservative Party conference in Manchester this month: “We are not going back to the same old broken model with low wages, low growth, low skills and low productivity.”

    And he urged businesses to put up wages.

    It currently looks positive for many Brits as tomorrows budget announcement will include a rise in the minimum wage.

  • Chancellor to unveil budget for 'new economy'

    Rishi Sunak will hail his Budget as ushering in a "new economy" after the coronavirus pandemic as he confirms billions of pounds of funding for the NHS and wage rises for millions of workers.

    The Chancellor is to bill his tax and spending plans on Wednesday as preparing an "economy fit for a new age of optimism" as the nation recovers from the hardship of Covid-19.

    But his speech, along with accompanying forecasts from the Office for Budget Responsibility, should shed light on the impact on the economy of the supply chain crisis, worker shortages and rising prices.

    After 18 months of high spending, Mr Sunak will have the opportunity to restore his conservative credentials by setting out a plan for bringing borrowing under control.

    But while he will confirm a rise of the "national living wage" to £9.50 from April and the end of the pay freeze he imposed on public sector workers, the devil will be in the detail.